Earnings Per Common Share (Unit) (Tables)

6 Months Ended

Jun. 30, 2016

The calculation of basic and diluted earnings per common share is shown below (in millions, except per share amounts):

	Quarter ended June 30,						Year-to-date ended June 30,
	2016			2015			2016			2015
Net income	$	351		$	214		$	535		$	313
Less: Net income attributable to non-controlling interests		(4	)		(2	)		(6	)		(3	)
Net income attributable to Host Inc.		347			212			529			310
Assuming conversion of exchangeable senior debentures		—			7			—			—
Diluted income attributable to Host Inc.	$	347		$	219		$	529		$	310

Basic weighted average shares outstanding		744.0			753.9			746.8			755.0
Assuming weighted average shares for conversion of exchangeable senior debentures		—			31.2			—			—
Assuming distribution of common shares granted under the comprehensive stock plans, less shares assumed purchased at market		0.3			0.4			0.3			0.4
Diluted weighted average shares outstanding⁽¹⁾		744.3			785.5			747.1			755.4

Basic earnings per common share	$	.47		$	.28		$	.71		$	.41
Diluted earnings per common share	$	.47		$	.28		$	.71		$	.41
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(1)There were approximately 31 million potentially dilutive shares for the year-to-date period ended June 30, 2015 related to our exchangeable senior debentures, which were anti-dilutive for the period. The exchangeable senior debentures were redeemed in 2015 in exchange for 32 million shares.

HOST HOTELS & RESORTS L.P.

Earnings Per Common Share (Unit)

The calculation of basic and diluted earnings per unit is shown below (in millions, except per unit amounts):

	Quarter ended June 30,				Year-to-date ended June 30,
	2016		2015		2016		2015
Net income	$	351	$	214	$	535	$	313
Less: Net loss attributable to non-controlling interests		1		1		1		1
Net income attributable to Host L.P.		352		215		536		314
Assuming conversion of exchangeable senior debentures		—		7		—		—
Diluted income attributable to Host L.P.	$	352	$	222	$	536	$	314

Basic weighted average units outstanding		737.4		747.3		740.2		748.3
Assuming weighted average units for conversion of exchangeable senior debentures		—		30.5		—		—
Assuming distribution of common units granted under the comprehensive stock plans, less units assumed purchased at market		0.3		0.3		0.3		0.4
Diluted weighted average units outstanding⁽¹⁾		737.7		778.1		740.5		748.7

Basic earnings per common unit	$	.48	$	.29	$	.72	$	.42
Diluted earnings per common unit	$	.48	$	.29	$	.72	$	.42
___________

(1) There were approximately 30 million potentially dilutive units for the year-to-date period ended June 30, 2015 related to our exchangeable senior debentures, which were anti-dilutive for the period. The exchangeable senior debentures were redeemed in 2015 and Host L.P. issued 31.3 million units.